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Trend Following by Michael W. Covel

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3. Performance Data

“The criterion of truth is that it works even if nobody is prepared to acknowledge it.”

Ludwig von Mises

“What we’ve got here is failure to communicate. Some men you just can’t reach, so you get what we had here last week, which is the way he wants it. Well, he gets it. And I don’t like it any more than you men.”

Cool Hand Luke

Any person can tell you that he has a successful trading method or system, but ultimately the only objective measurement that matters at the end of the day is raw performance. Consider the presented data in this text to be scientific proof of trend following. If a claim is to be made, it must be supported. The numbers in this chapter and Appendix B, “Performance Guide,” don’t lie. ...

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